Recital 9

(9)Given the limited scope of the amendment, the need to provide clarity to market participants as soon as possible, and the input already provided by those market participants to the public consultation ran by the European Commission within the context of the legislative proposal for Regulation (EU) 2022/858, ESMA has not conducted any open public consultations. ESMA has nevertheless conducted a high-level analysis of the potential related costs and benefits and has requested the advice of the Securities and Markets Stakeholder Group established by Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council ⁸ . In developing the draft regulatory technical standards, ESMA has also cooperated with the members of the European System of Central Banks,